Limits of BDC's Interest Sample Clauses

Limits of BDC's Interest. Although the Lender holds for BDC’s proportional benefit all collateral securing performance and payment of a Borrower's obligations and liabilities under and in connection with any Loan, BDC shall have no interest in any other property taken as security for any other credit, loan or financial accommodation made or furnished to the Borrower by the Lender in which BDC has no Participation. This shall include any property now or hereafter in the Lender's possession or under the Lender's control or in any deposit held that may be or may become security for performance or payment of a Borrower's or guarantor's obligations and liabilities under and in connection with other indebtedness owing to Lender by reason of the general description contained in any other instrument held by the Lender or by reason of any right of setoff, counterclaim, banker's lien or otherwise; provided, however, if such property, deposit, indebtedness or the proceeds thereof shall be applied to the payment or reduction of principal, interest, fees or any other amounts owing by a Borrower or guarantor in connection with a Loan, then BDC shall be entitled to its pro rata share of such payment. All collateral securing performance and payment of a Borrower's obligations and liabilities under and in connection with any Loan may be used by Lender in connection with other indebtedness owing to Lender, but only if lien position is specifically subordinate to the Loan.
Sample 1
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Related to Limits of BDC's Interest

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